The IRS is leveraging AI technology to combat tax and bank fraud. The agency's Criminal Investigation division is using artificial intelligence to analyze and identify potential financial crimes, such as money laundering and tax evasion.
The IRS's use of AI is part of its broader effort to modernize its tax enforcement efforts. The agency has announced a new program called CI-FIRST, which aims to improve communication with financial institutions and speed up investigations.
The IRS is using machine learning algorithms to analyze large datasets and identify patterns that may indicate financial crimes. This technology enables the agency to identify high-risk taxpayers and streamline investigations, allowing agents to focus on more complex cases.
Overall, the IRS's use of AI is aimed at improving the efficiency and effectiveness of its tax enforcement efforts, and helping to prevent financial crimes. By harnessing the power of AI, the IRS can better detect and prevent tax and bank fraud, ultimately protecting the integrity of the US financial system.
